A few short years ago, jewelry maker Alex and Ani LLC was the public example of a happy Bank of America Corp. customer. Now, it’s suing the lender for more than $1 billion in damages and alleging discrimination.
The female-led company says the bank fraudulently declared it in default of a $50 million line of credit last year and is driving the jeweler toward bankruptcy. It’s a stark turnaround from a 2014 commercial that touted Bank of America’s help in making Alex and Ani a “global sensation.”
